A recent MBA would like your assist- ance in determining how much to save for retirement. He
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Question:
a. If he is 30 years old now, how much money should he expect to have in his retirement fund at age 60?
b. What is the probability that he will have more than $1 million in his retirement fund when he reaches age 60?
c. How much should he invest each year if he wants the mean value of his portfolio to be at least $1 million at age 60?
d. How much should he invest each year if he wants there to be a 90 percent chance of having at least $1 million in his retirement fund at age 60?
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